Understanding the SMB Cash Flow Flywheel
When it comes to customer acquisition, fintech challengers have come to rely on a model that is often talked about, but rarely understood. Until now.
The flywheel has become a powerful model to describe the growth strategy of many fintech challengers today — and for good reason. Unlike the linear product roadmaps of yesteryear, the flywheel introduces a virtuous circle that prioritizes the journey just as much as the destination. And in the process, uncovers a multitude of entry points for introducing new products while expanding the customer relationship.
Key takeaways you can apply at your own institution:
• What is the product flywheel, and how can it help us better understand small business needs
• Why SMB cashflow management is a natural fit for the flywheel framework, and how payment acceptance is an ideal entry point
• What we can learn from product flywheels outside banking, and how big companies like Starbucks and Chick-fil-A have applied this framework to great success
• How to create your own small business banking flywheel — starting with digital payment acceptance — and how Autobooks can help
Watch Derik Sutton, industry veteran and VP of Marketing at Autobooks, as he delves into the ideas impacting the fast-changing small business market.
Want to learn more about Autobooks? Visit us at autobooks.co